In casual conversations with Democrats in August from across the Midwest, I found that their biggest frustration with the national party is that its platform didn’t appeal to them. I was not surprised to see that same sentiment captured in a poll by The Wall Street Journal around the same time. It found Democrats’ popularity cratering, with a staggering 63% of voters holding an unfavorable view of the party.

One month later, another survey by the Journal showed that people are losing faith that they will achieve the American dream in their lifetime — and worse, they fear it will even be further out of reach for their children and grandchildren.

No Democrat cringes more at those stats than former Illinois congressman, White House Chief of Staff and Chicago Mayor Rahm Emanuel. Twenty years ago, he led the Democrats’ takeover of the House, and he is widely rumored to be considering a run for his party’s nomination for president in 2028.

Many smart Republicans will tell you privately that of all the folks throwing their name around as possible contenders, it is Emanuel, a brilliant political animal and tactician, whom they fear the most.

Emanuel said in our interview that the survey numbers from the Journal told him a few important things but one above all: that Democrats really need to start addressing that it is unacceptable for the American dream to be inaccessible to so many.

“I think that the core and the reason people are disappointed in the Democratic Party is because when their backs (are) against the wall, they expect us to show up, and we are nowhere on this,” he said.

Emanuel said some of the things Democrats did over the years, such as universal health care, helped with affordability.

“(There are) other things we did, like allowing college costs to get out of control and allowing it to become less about a meritocracy and more about an exclusive club,” he explained.

His second lesson for his party: lifting people up so they can attain a middle-class life.

“Today is a struggle, and you want a shot,” he said. “You want a shot for your children, and you’re getting the shaft now. You’re struggling to barely hold on, and it used to be you could work hard and get there and stay there. Now you’ve gotten there, you’re fearful, and you’re also pessimistic about your kids ever getting there either.”

Another thing Democrats need to address is that the system is rigged.

“I’ll say it, it’s rigged in favor of me and my children,” he said. “And so I used to spend a lot of time unrigging, trying to unrig it. My attitude now is, ‘No, I want to keep it rigged. I’m just going to rig it for you against the powerful interests.'”

While Emanuel admitted that putting it that way is sort of tongue-in-cheek, he is clearly frustrated that things have gotten so out of control for the middle class.

“We’ve lost touch with the uniqueness of what (Presidents Franklin) Roosevelt, (Lyndon) Johnson, and (Harry) Truman built,” he said.

Emanuel is well aware of the demographic shifts among voters, in particular among working-class Hispanic, Black and male voters under 50. Emanuel said Democrats need to talk more about appreciating those groups’ plight and stress, relating to it, understanding it, communicating on it, and detailing a plan to restore and uphold that.

Emanuel believes there is value in Democrats being the party of “let anybody be what they want to be.” But there is also value in respecting a set of values that are binding and a shared consensus.

While he is not saying whether he is going to run, he is spending his time letting people get to know him and trying to help Democrats win races both at the top of the ballot in statewide elections and downballot.